U.S. has reinstated sanctions against Russian oil, - Politico
U.S. sanctions against Russian oil have gone back into effect after the Trump administration decided this weekend not to extend the waiver granted due to the war with Iran.
This was reported by Politico, according to Censor.NET.
Sanctions are back in effect
The publication noted that the U.S. Department of the Treasury had extended the suspension of sanctions on Russian oil last month to lower energy prices following Iran’s blockade of the Strait of Hormuz in response to attacks by the U.S. and Israel. The suspension of sanctions expired on April 11.
Meanwhile, the U.S. Treasury Department did not respond to Politico’s inquiry regarding the expiration of the sanctions exemption but referred to a March statement by Treasury Secretary Scott Bessent, who called the move a "short-term measure."
It is noted that Senate Foreign Relations Committee member Jean Shaheen, Senate Minority Leader Chuck Schumer, and Senate Banking Committee member Elizabeth Warren pressed the Trump administration on April 10 not to extend the Treasury Department’s general license. The senators stated that the extension allowed Russia and its allies to earn over $4 billion.
However, an aide to one of the Democratic senators told Politico that the expiration of the sanctions exemption "is hardly cause for celebration."
"Now this license further incentivizes all Russian intermediaries to ship sanctioned oil, in anticipation of another ‘windfall’ from the license or because the Trump administration has signaled that it is willing to quickly turn a blind eye to Russian oil to mitigate the consequences of its policy toward Iran," he said.
What preceded?
- The U.S. Department of the Treasury announced the removal of a number of individuals and entities from the sanctions list related to Russia.
- The United States has granted a 30-day waiver allowing countries to purchase Russian oil and petroleum products that are subject to sanctions and are currently on tankers at sea. Treasury Secretary Scott Bessent described this move as a measure to stabilize global energy markets, which have been unsettled by the war with Iran.
